Endoscopy Devices Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Endoscopy Equipment Market is segmented by type of device (Endoscopes, Endoscopic Operative Device, and Visualization Equipment), application (Gastroenterology, Pulmonology, Orthopedic Surgery, Cardiology, ENT Surgery, Gynecology, Neurology, and Other Applications), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market size and value (in USD million) for the above segments.

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Endoscopy Devices Market Size

Endoscopy Devices Market Summary
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Study Period 2018 - 2028
Market Size (2023) USD 35.31 Billion
Market Size (2028) USD 48.52 Billion
CAGR (2023 - 2028) 6.56 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Endoscopy Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Endoscopy Devices Market Analysis

The Endoscopy Devices Market size is expected to grow from USD 35.31 billion in 2023 to USD 48.52 billion by 2028, at a CAGR of 6.56% during the forecast period (2023-2028).

COVID-19 impacted the endoscopy devices market due to the cancellations of elective procedures. However, the market recovered in the last two years since the restrictions were lifted and endoscopic procedures resumed. The strategic initiatives by market players to launch innovative endoscopic devices and boost the procedures compensated for the market growth in the later phase of a pandemic. For instance, in April 2022, Fujifilm launched a mobile training hub EndoRunner Tour, with the EndoRunner set to visit hospitals and conferences across Europe at the European Society of Gastrointestinal Endoscopy conference. The launch intended to tackle endoscopy challenges in post-COVID infection. The emergence of new variants of COVID-19 strains was expected to have a negligible impact on the endoscopy devices market. The market was expected to grow stable during the forecast period.

The rising prevalence of various chronic diseases and other diseases is expected to raise the adoption of endoscopy for treatment and diagnosis, thereby boosting the market's growth over the forecast period. For instance, the British Heart Foundation (BHF) data published in January 2022 reported that in 2021, the most common heart conditions affected globally were coronary (ischemic) heart disease, peripheral arterial disease, stroke, and atrial fibrillation. Thus, the high burden of cardiovascular diseases is further expected to increase the demand for endoscopy procedures for diagnostic procedures, thereby boosting the market's growth.

Furthermore, the growing significance, adoption, and evolution of minimally invasive surgeries worldwide testify to the impact that is steadily being utilized for improving patient outcomes. For instance, according to the study titled 'Maintaining a minimally invasive surgical service during a pandemic' published in March 2022, because of benefits including decreased morbidity and quicker recovery times, minimally invasive surgery (MIS) is frequently the preferred procedure for most abdominal and pelvic surgeries. Such a rise in the adoption of MIS will lead to increased adoption of endoscopy devices during the surgical monitoring of tissues, driving the market growth.

Additionally, manufacturers of endoscopy devices are also increasingly focusing on developing technologically advanced endoscopy systems, thereby boosting market growth over the forecast period. For instance, in November 2021, FUJIFILM Healthcare launched the dual-channel endoscope to be cleared by the United States Food and Drug Administration for upper and lower gastrointestinal applications. Also, in June 2022, Getinge released an updated version of the ED-Flow automated endoscope reprocessor featuring a higher level of digital connectivity and data management to Getinge's endoscope reprocessing customers, which will result in improved uptime and increased productivity.

Thus, owing to factors such as the high burden of chronic diseases, rising technological advancements, and launches by market players, the endoscopy devices market is expected to show significant growth globally over the forecast period. However, the lack of skilled technicians and infections caused by few endoscopes hinder the market growth.

Endoscopy Devices Market Trends

The Flexible Endoscope Segment is Expected to Show Better Growth in the Forecast Period

A flexible endoscope is an optical instrument that transmits light and carries images back to the observer. Furthermore, these instruments are equipped with flexible transparent fibers. The segment is expected to grow during the forecast period due to the advantages offered over other alternatives, rising launches, and increasing adoption of flexible endoscopes.

Various chronic diseases such as inflammatory bowel diseases (IBD), stomach cancer, colon cancer, respiratory infections, respiratory tumors, and others require extensive use of endoscopes for diagnostic purposes. Thus, the high prevalence of these diseases leads to a surge in demand for flexible endoscopes. For instance, according to the American Cancer Society 2023 report, an estimated 26,380 new cases of stomach cancer were diagnosed in the United States in 2022, and 26,500 new stomach cancer are estimated to be diagnosed in 2023. Thus, these chronic diseases' high incidence and prevalence lead to a surge in demand for flexible endoscopes.

Furthermore, the launches and approvals by market players are expected to propel the segment's growth during the forecast period. For instance, in August 2021, Boston Scientific received FDA approval for the EXALT Model B Single-Use Bronchoscope. EXALT Model B Single-Use Bronchoscope is the latest evolution in flexible bronchoscopy. It is developed for use in ICU and built to help keep airways clear during complex respiratory procedures like double-lumen tube placements.

Thus, considerable segment growth is expected over the forecast period due to the increasing prevalence of diseases, several advantages of a flexible endoscope, and product launches.

Endoscopy Devices Market: Estimated Number of New Cancer Cases (in thousand), United States, 2023

North America is Expected to Hold a Significant Market Share Over The Forecast Period

The high burden of diseases such as cardiovascular diseases, colorectal and stomach cancer, increasing adoption of minimally invasive surgeries, technological innovations, approvals, product launches, and partnerships by market players are expected to drive the endoscopy market in the region. For instance, the data updated by Cedars-Sinai in January 2022 reported that coronary artery bypass graft surgery (CABG), also known as coronary artery bypass or bypass surgery, is the most common heart surgery and more than 300 thousand people have successful bypass surgery in the United States each year. The high number of bypass surgery performed may cause an increased demand for image-guided surgical systems, thus driving the growth of endoscopy devices in the nation.

Furthermore, an increase in endoscopic procedures for early diagnosis of gastrointestinal and colorectal cancers is expected to boost the market in the coming years. Most gastrointestinal stromal tumors usually start in the rectum, colon, and esophagus. For instance, as per the American Cancer Society (ACS) 2023 report, the expected esophagus cancer is estimated to be diagnosed in 21.5 thousand individuals, stomach cancer in 26.5 thousand individuals, and colorectal cancer in 153 thousand in the United States in 2023. The high burden of these cancers is expected to propel the demand for endoscopy devices in the nation during the forecast period.

The rising launches and approvals of endoscopy devices in the region also contribute to the market growth during the forecast period. For instance, in July 2022, Zsquare, a developer of single-use endoscopes, received Food and Drug Administration 510K clearance to market its product, the Zsquare ENT-Flex Rhinolaryngoscope, in the United States. Also, in November 2022, PENTAX Medical, a healthcare industry leader in diagnostic and therapeutic endoscopy solutions, launched the Performance Endoscopic Ultrasound (EUS) system in Canada.

Thus, the factors such as the rising product launches and the increasing adoption of minimally invasive imaging and surgeries due to chronic diseases are expected to boost the market's growth in Canada during the forecast period.

Endoscopy Devices Market - Growth Rate by Region

Endoscopy Devices Industry Overview

The market is moderately competitive and consists of several global players. As the market progresses, the firms try to achieve clear differentiation in endoscopic systems based on their application. The major market players are Boston Scientific Corporation, Medtronic PLC, Olympus Corporation, Cook Group Incorporated, and Johnson & Johnson.

Endoscopy Devices Market Leaders

  1. Medtronic PLC

  2. Olympus Corporation

  3. Cook Group Incorporated

  4. Johnson & Johnson

  5. Boston Scientific Corporation

*Disclaimer: Major Players sorted in no particular order

Endoscopy Devices Market Concentration

Endoscopy Devices Market News

  • January 2023: AA Medical entered into a partnership with Certified Endoscopy Products, a Chicago-based medical device reprocessing company specializing in endoscopic devices. AA Medical and Certified Endoscopy will form a preeminent medical device reprocessing company serving the endoscopy, orthopedic, and other surgical device markets.
  • August 2022: Medtronic launched GI Genius, an artificial intelligence endoscopy module for treating colorectal cancer in India. The developed medical solution gives real-time data and empowers physicians to detect and treat colorectal cancer, offering enhanced visualization during colonoscopy.

Endoscopy Devices Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Preference for Minimally-Invasive Surgeries

      2. 4.2.2 Increasing Adoption of Endoscopy for Treatment and Diagnosis

      3. 4.2.3 Technological Advancements Leading to Enhanced Applications

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Skilled Technicians

      2. 4.3.2 Infections Caused by Few Endoscopes

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - in USD Million)

    1. 5.1 By Type of Device

      1. 5.1.1 Endoscopes

        1. 5.1.1.1 Rigid Endoscope

        2. 5.1.1.2 Flexible Endoscope

        3. 5.1.1.3 Capsule Endoscope

        4. 5.1.1.4 Robot-assisted Endoscope

      2. 5.1.2 Endoscopic Operative Device

        1. 5.1.2.1 Irrigation/Suction System

        2. 5.1.2.2 Access Device

        3. 5.1.2.3 Wound Protector

        4. 5.1.2.4 Insufflation Device

        5. 5.1.2.5 Operative Manual Instrument

        6. 5.1.2.6 Other Endoscopic Operative Devices

      3. 5.1.3 Visualization Equipment

        1. 5.1.3.1 Endoscopic Camera

        2. 5.1.3.2 SD Visualization System

        3. 5.1.3.3 HD Visualization System

    2. 5.2 By Application

      1. 5.2.1 Gastroenterology

      2. 5.2.2 Pulmonology

      3. 5.2.3 Orthopedic Surgery

      4. 5.2.4 Cardiology

      5. 5.2.5 ENT Surgery

      6. 5.2.6 Gynecology

      7. 5.2.7 Neurology

      8. 5.2.8 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Boston Scientific Corporation

      2. 6.1.2 Conmed Corporation

      3. 6.1.3 Cook Group Incorporated

      4. 6.1.4 Richard Wolf GmbH

      5. 6.1.5 Johnson & Johnson

      6. 6.1.6 Fujifilm Holdings Corporation

      7. 6.1.7 Medtronic PLC

      8. 6.1.8 Olympus Corporation

      9. 6.1.9 Karl Storz SE & Co. KG

      10. 6.1.10 Stryker Corporation

      11. 6.1.11 Hoya Corporation

      12. 6.1.12 Smith & Nephew PLC

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

Endoscopy Devices Industry Segmentation

As per the scope of the report, endoscopes are minimally-invasive devices and can be inserted into natural openings of the body to observe an internal organ or a tissue in detail. Endoscopic surgeries are performed for imaging procedures and minor surgeries. The Endoscopy Devices Market is segmented by type of device (Endoscopes, Endoscopic Operative Device, and Visualization Equipment), application (Gastroenterology, Pulmonology, Orthopedic Surgery, Cardiology, ENT Surgery, Gynecology, Neurology, and Other Applications), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

By Type of Device
Endoscopes
Rigid Endoscope
Flexible Endoscope
Capsule Endoscope
Robot-assisted Endoscope
Endoscopic Operative Device
Irrigation/Suction System
Access Device
Wound Protector
Insufflation Device
Operative Manual Instrument
Other Endoscopic Operative Devices
Visualization Equipment
Endoscopic Camera
SD Visualization System
HD Visualization System
By Application
Gastroenterology
Pulmonology
Orthopedic Surgery
Cardiology
ENT Surgery
Gynecology
Neurology
Other Applications
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Endoscopy Devices Market Research FAQs

The Global Endoscopy Devices Market size is expected to reach USD 35.31 billion in 2023 and grow at a CAGR of 6.56% to reach USD 48.52 billion by 2028.

In 2023, the Global Endoscopy Devices Market size is expected to reach USD 35.31 billion.

Medtronic PLC, Olympus Corporation, Cook Group Incorporated, Johnson & Johnson and Boston Scientific Corporation are the major companies operating in the Global Endoscopy Devices Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the North America accounts for the largest market share in the Global Endoscopy Devices Market.

Endoscopy Devices Industry Report

Statistics for the 2023 Endoscopy Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Endoscopy Devices analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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